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	<title>Linked Local Network &#187; Financial Services</title>
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		<title>Is open source software secure?</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/03/20/is-open-source-software-secure/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/03/20/is-open-source-software-secure/#comments</comments>
		<pubDate>Wed, 20 Mar 2013 11:00:15 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<guid isPermaLink="false">http://www.linkedlocalnetwork.com/blog/2013/03/20/is-open-source-software-secure/</guid>
		<description><![CDATA[In many cases, open source software can help companies save money. But will those applications introduce new security threats?&#160; IT security experts often disagree about the relative security of open source software. Some observers say many open source developers don&#8217;t have incentives to fix security vulnerabilities, so they often go unpatched. However, others point out [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>In many cases, open source software can help companies save money. But will those applications introduce new security threats?&nbsp;<span></span></p>
<p>IT security experts often disagree about the relative <a rel="nofollow" target="_blank" href="http://www.itworld.com/software/348107/security-open-source-software-again-being-scrutinized">security of open source software</a>. Some observers say many open source developers don&rsquo;t have incentives to fix security vulnerabilities, so they often go unpatched.</p>
<p>However, others point out that the attention paid to security varies across different communities and that while some may not have a strong record with security, others have been very effective at delivering patches.</p>
<p>Also, some argue, open source applications are often less widely used than their commercial counterparts, so they aren&rsquo;t attacked as often.</p>
<p>The debate has heated up recently as some researchers have pointed out the security deficiencies in some open source projects. For example, in a presentation at the recent RSA security conference, researchers from Sourcefire presented findings of a study of <a rel="nofollow" target="_blank" href="http://www.networkworld.com/news/2013/022513-windows-xp-firefox-vulnerabilities-266970.html?page=1">security vulnerabilities in open source and commercial software</a>.</p>
<p>One finding: When all of the major distributions of the open source operating system were combined, Linux had more vulnerabilities report in 2012 (1,752) than all versions of Windows combined (1,114).</p>
<p>Also, when comparing web browsers, Sourcefire found that the open source Mozilla Firefox contained the highest number of critical vulnerabilities last year, with 433 &mdash; even more than Internet Explorer which is often considered a higher risk based on the number of attacks that the target the browser.</p>
<h2>Plan open source implementations</h2>
<p>In the end, all software is going to have vulnerabilities &mdash; whether it&rsquo;s commercially sold or open source. However, the debate about open source security should make one thing clear for organizations: It&rsquo;s important to take security into account when considering open source implementations.</p>
<p>Some questions IT should ask before <a rel="nofollow" target="_blank" href="http://www.itmanagerdaily.com/6-questions-to-ask-before-switching-to-open-source/">choosing an open source application</a>:</p>
<ol>
<li>
<em>How active is the community?</em>&nbsp;Take a look at discussion boards and the frequency of updates. That will give you an idea of how many people are developing the app and how quickly bugs get fixed.</li>
<li>
<em>Are there regular security patches?</em>&nbsp;Find out if the project has established practices for identifying vulnerabilities and fixing them.</li>
<li>
<em>What kind of quality assurance process is there?</em>&nbsp;Check the process being followed by developers for each release. If it&rsquo;s not up to your standards, look somewhere else.</li>
<li>
<em>How have other businesses used it?</em>&nbsp;The best way to see if an open source project will work for you? Tap into the community and find a business similar to yours that has tried it.</li>
</ol>
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<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/is-open-source-software-secure/">Is open source software secure?</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
<p><a href="http://feedproxy.google.com/~r/financetechnews/~3/ny3qL3w8N4w/">Go to Source</a><br />
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		<title>Companies invest in the wrong IT security tools, report says</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/03/05/companies-invest-in-the-wrong-it-security-tools-report-says/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/03/05/companies-invest-in-the-wrong-it-security-tools-report-says/#comments</comments>
		<pubDate>Tue, 05 Mar 2013 11:00:13 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<guid isPermaLink="false">http://www.linkedlocalnetwork.com/blog/2013/03/05/companies-invest-in-the-wrong-it-security-tools-report-says/</guid>
		<description><![CDATA[The budget for IT security is tight in most companies, so it&#8217;s critical those dollars are spent the right way. Unfortunately, that&#8217;s not the case in a lot of organizations.&#160; While IT security investments are increasing, that spending isn&#8217;t going toward the technologies that have the biggest impact on the protection of companies&#8217; data, according [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>The budget for IT security is tight in most companies, so it&rsquo;s critical those dollars are spent the right way. Unfortunately, that&rsquo;s not the case in a lot of organizations.&nbsp;<span></span></p>
<p>While IT security investments are increasing, that spending isn&rsquo;t going toward the technologies that have the biggest impact on the protection of companies&rsquo; data, according to a survey recently conducted by IT security firm SafeNet.</p>
<p>And even worse: The folks in charge of securing the company&rsquo;s data know there&rsquo;s something wrong with what they&rsquo;re doing but organizations aren&rsquo;t changing their course.</p>
<p>Among the 230 IT security professionals surveyed, 35% believe security dollars are being spent on the wrong technologies. However, nearly all (95%) said the company is continuing to spend money on the same security tools.</p>
<h2>IT security beyond the perimeter</h2>
<p>One problem with how organizations are trying to protect data: Most are focused on firewalls, antivirus software and other perimeter security tools that attempt to keep hackers off the network.</p>
<p>However, experts say that with the rate at which organizations are being attacked, some level of intrusion is inevitable, so it&rsquo;s important to have ways to minimize the damage that can be done once hackers find a way onto the network.</p>
<p>While 74% of IT pros say their perimeter defenses are effective, 59% said the organization&rsquo;s most critical data will be at risk if and when the perimeter is breached.</p>
<p>Some of the additional tools companies can look into include:</p>
<ul>
<li>Encrypting specific drives and folders that contain sensitive data</li>
<li>Limiting users&rsquo; and IT employees&rsquo; access rights to reduce the damage if their accounts are compromised, and</li>
<li>Segregating networks so that an intruder into one area doesn&rsquo;t have access to all the data stored throughout the company &mdash; for example keeping users&rsquo; Internet-facing desktops separate from servers holding critical data.</li>
</ul>
<p>Also, it&rsquo;s important to effectively monitor the network for suspicious activity. Many breaches occur and then are allowed to continue because the organization isn&rsquo;t aware that the network was hacked.</p>
<p>Keeping and analyzing logs can help companies discover and mitigate breaches before even more damage is allowed to occur.</p>
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<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/wrong-it-security-tools/">Companies invest in the wrong IT security tools, report says</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
<p><a href="http://feedproxy.google.com/~r/financetechnews/~3/Xr-RNtXHf68/">Go to Source</a><br />
Author: </p>
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		<title>Factoring as a Segueway to Success</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/03/04/factoring-as-a-segueway-to-success/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/03/04/factoring-as-a-segueway-to-success/#comments</comments>
		<pubDate>Mon, 04 Mar 2013 15:12:51 +0000</pubDate>
		<dc:creator>Segueway</dc:creator>
				<category><![CDATA[Building Business]]></category>
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		<guid isPermaLink="false">http://www.linkedlocalnetwork.com/?p=51191</guid>
		<description><![CDATA[Segueway to Success Listen at – “Factoring as a Segueway to Success” Previous Archived Shows - On Demand – “Segueway to Success” talk radio podcast By: Brent Hamachek and Tom Kuchan Our “Segueway to Success” show, talking about our blog, airs each Wednesday at 15:00 CST.  Find this week&#8217;s show and the archives on our web site: [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.linkedlocalnetwork.com/wp-content/uploads/2012/12/Segueway-Logo.jpg" width="240" />
		</p><p>Segueway to Success</p>
<p>Listen at – “<a title="Blog Talk Radio - Factoring" href="http://www.blogtalkradio.com/linkedlocalnetwork/2013/03/06/segueway-to-success" target="_blank">Factoring as a Segueway to Success</a>”</p>
<p>Previous Archived Shows - <a href="http://www.blogtalkradio.com/search/segueway/">On Demand – “Segueway to Success” talk radio podcast</a></p>
<div id="attachment_37544" class="wp-caption alignnone" style="width: 293px"><a href="http://www.linkedlocalnetwork.com/wp-content/uploads/2012/12/Segueway-Logo.jpg" rel="lightbox[51191]"><img class="size-full wp-image-37544" alt="Segueway Solutions" src="http://www.linkedlocalnetwork.com/wp-content/uploads/2012/12/Segueway-Logo.jpg" width="283" height="189" /></a><p class="wp-caption-text">Segueway Solutions</p></div>
<p>By: Brent Hamachek and Tom Kuchan</p>
<p>Our “Segueway to Success” show, talking about our blog, airs each Wednesday at 15:00 CST.  Find this week&#8217;s show and the archives on our web site:  <a href="http://www.seguewaysolutions.com/Articles-and-Events.html">www.seguewaysolutions.com/Articles-and-Events.html</a></p>
<p><b>The recession, which began in 2007, has changed the landscape of business financing</b>.  Over the past few months, Segueway to Success has featured numerous guests from various sectors of the world of business finance.  <b>This week we tackle the growing, and often-misunderstood world of factoring.</b></p>
<p>There is evidence that over 4,000 years ago the Mesopotamians began the practice of factoring.  The Roman Empire also had it as a common practice.  In the United States, factoring finds its origin in England during the 14<sup>th</sup> through 17<sup>th</sup> centuries and the burgeoning period of world exploration and trade.  <b>Factoring is indeed as old and as practiced as is another famous human profession with a more colorful but no less tarnished image.</b></p>
<p><b>Factoring is actually very basic and simply involves the purchasing of an invoice from a business customer, on a discounted basis, to provide the business with immediate liquidity and to speed up its cash cycle</b>.  The factor provides a vital service to the business sector, so why does factoring enjoy a less than favorable reputation?</p>
<p>In part, it is a function of not understanding <b>what factors do, how they work</b>, and <b>when a company is an appropriate candidate</b> for their use.  Another reason is that since they are used for business financing <b>they are incorrectly compared to commercial banks</b> who provide traditional account receivable financing at a lower interest rate.  As banks are adverse to significant credit risk <b>they are not typically competing for the same client as the factor who advances funds to businesses with a riskier credit profile</b> &#8211; at least until this recession started they were not direct competitors but that has changed a bit.  Finally, the idea of selling your assets for a high price to someone else to own has been glorified as the transaction between mobster and shop owner in American history, film and folklore.  People tend to reflexively think of factors as gangsters.</p>
<p>The truth, as is often the case, is actually quite different.  <b>Factoring is necessary to make the economy run and provide “non-bankable” businesses with a way to fund their cash needs</b> and become bankable again.  When a company has faced prior period losses, or is in an industry which experiences a downturn causing banks to exit, like construction, <b>the factor can be the only solution for survival and recovery</b>.</p>
<p>Rates vary but can run from 18 percent to the mid-30 percent range depending upon the industry and the client’s circumstances.  Advance rates can be as low as 50% and as high as 80-85%, again, depending upon the same conditions.</p>
<p><b>At one time, factoring carried a dark stained stigma</b>, like a scarlet letter.  In recent years that has changed as so many companies were damaged by the recession and the banking industry responded by retreating like a French soldier, that <b>businesses everywhere are used to seeing their vendor present them with a new factoring relationship.  The stigma, while not gone, has faded.</b></p>
<p>How and when to factor, and the advantages and disadvantages, need to be understood by the erstwhile business factoring prospect.  <b>Because of the rigidity of banking today, companies with profit margins that can tolerate a factor’s rate may wish to factor even if they are bankable just to avoid the capriciousness of the bank’s loan committee changing their borrowing terms midstream</b>.  Because factoring has traditionally been thought of as “something that sick companies do”, a business may pass on an opportunity that could provide significant benefit and facilitate rapid growth.</p>
<p>Join us on Segueway to Success this week when our guest will be <b>Debra Wilson from Vertex Financial in Dallas, Texas</b>.  Debra has been in the factoring industry for <b>over 30 years and has watched it pass through various phases and client perceptions</b>.  She will make a foreign topic feel domestic and perhaps enlighten one of our listeners enough to at least consider the unthinkable; <b>factoring their assets as a choice, not as a necessity or last ditch effort</b>.</p>
<p><b>Segueway Solutions – </b><a href="http://www.seguewaysolutions.com/"><b>http://www.seguewaysolutions.com/</b></a><b> </b></p>
<p>+1 (847) 778-9474</p>
<p><b>Brent E. Hamachek</b> spent the first 15 years of his professional life in banking, working in 6 different sectors including audit, credit and 9 years as a commercial banker.</p>
<p>After commercial banking, Brent formed Segueway Solutions in 2000 in order to assist privately held companies in transition. To date, he has worked in 40 different industries and has served in the capacity of CEO, CFO &amp; EVP Sales for clients. Brent is a sought after consultant, speaker and trainer offering national and foreign expertise to clients.</p>
<p><b>brent@SeguewaySolutions.com</b></p>
<p><b>Tom Kuchan</b> is a proven leader in global business expansion and effectiveness, risk management, finance and operations with experience in both Fortune 50 and entrepreneurial environments. He has a proven record of defining strategic objectives, translating them into operational tasks, and leading their implementation in diverse geographies and cultures across the globe.</p>
<p>Tom has lived overseas for over twenty years, including Switzerland, Germany and the United Arab Emirates, and has worked extensively across Europe, Latin America, Africa, the Middle East, and Asia.</p>
<p><b>tom@SeguewaySolutions.com</b></p>
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		<title>One cost-cutting technique that can get companies in big trouble</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/03/01/one-cost-cutting-technique-that-can-get-companies-in-big-trouble/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/03/01/one-cost-cutting-technique-that-can-get-companies-in-big-trouble/#comments</comments>
		<pubDate>Fri, 01 Mar 2013 11:00:12 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<description><![CDATA[It&#8217;s good for Finance when employees throughout the company look for ways to cut costs. But not when that behavior creates legal and security risks.&#160; In many organizations, IT and management don&#8217;t keep tight control over what software employees download &#8212; and that may mean people are using the Internet to find and install pirated [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/uploads/dangersign.jpg" width="240" />
		</p><p><a rel="nofollow" target="_blank" href="http://www.financetechnews.com/pirated-software-malware/"><img alt="dangersign" src="http://www.financetechnews.com/wp-content/uploads/dangersign.jpg" width="347" height="346"></a></p>
<p>It&rsquo;s good for Finance when employees throughout the company look for ways to cut costs. But not when that behavior creates legal and security risks.&nbsp;<span></span></p>
<p>In many organizations, IT and management don&rsquo;t keep tight control over what software employees download &mdash; and that may mean people are using the Internet to find and install pirated versions of applications.</p>
<p>A lot of the time, the employees&rsquo; goal may be to help the company save, but that doesn&rsquo;t change the fact that what they&rsquo;re doing could get the company in serious trouble.</p>
<p>Obviously, downloading pirated software is against the law and could get the company dragged into court. But in addition to that, downloading those applications increases the organization&rsquo;s risk of being hit with an IT security attack.</p>
<h2>Pirated software often malicious</h2>
<p>Highlighting the security dangers of counterfeit software, Microsoft recently released the results of a study conducted in Southeast Asia. The report claims Microsoft uncovered more than <a rel="nofollow" target="_blank" href="http://technology.inquirer.net/23415/microsoft-bares-study-results-on-viruses-malware-in-newly-bought-computers">5,600 different kinds of malware pre-loaded onto computers</a> that were shipped with pirated copies of Microsoft Windows installed on them.</p>
<p>The company sampled 216 name-brand laptops, as well as 66 pirated DVD copies of Windows. Among the laptops, most (68%) were found to contain malware, and nearly three-quarters (74%) of the DVDs contained malicious software.</p>
<p>In addition to the viruses, worms and other software that was actively stealing data from the machines, researchers also found a number of computers with malicious programs capable of disabling firewalls, antivirus software and other security tools.</p>
<h2>Business software being pirated</h2>
<p>It&rsquo;s unlikely many businesses in the U.S. will be running machines loaded with pirated copies of Windows, since IT departments know better than that. However, the trouble arises when non-IT employees &mdash; or managers of other departments &mdash; find and install software on their own.</p>
<p>One common method employees may use to get software for free is to download a key generator that creates a code that can be used to unlock a trial version of an application. Not only is that illegal, but <a rel="nofollow" title="Key generator malware" target="_blank" href="http://www.itmanagerdaily.com/microsoft-user-downloads-malware/">it&rsquo;s also dangerous</a>, as the sites the key generators are downloaded from are often unsafe, and the software itself is frequently bundled with malware, according to an earlier Microsoft report, released in the summer of last year.</p>
<p>Among the PCs that Microsoft analyzed for the report, 76% of those that had key generators installed were also infected with malware. And the use of that software pirating technique isn&rsquo;t isolated to a small number of computers &mdash; more than 10% of all the machines studied for the report were found to have a key generator installed.</p>
<p>What kinds of software are most often associated with illegal downloads and subsequent malware infections? According to Microsoft, pirated copies of popular games are likely culprits, but many of the infections were also linked to software commonly used for business and professional purposes, including&nbsp;Adobe Photoshop, AutoCAD and Sony Vegas Pro.</p>
<h2>Other downloads create risks, too</h2>
<p>In addition to the unauthorized software users may find online, downloading other content such as music and videos can create a number of IT security risks, too. Often, those downloads are done via peer-to-peer file-sharing networks, which can put users at risk of downloading malware, as well as leaving sensitive information open for other web users to download.</p>
<p>In a 2010 study, researchers at Dartmouth College <a rel="nofollow" title="File sharing networks sensitive data" target="_blank" href="http://www.itmanagerdaily.com/study-finds-thousands-of-sensitive-docs-on-p2p-networks/">scoured file-sharing networks</a> to see how easy it would be to find sensitive healthcare information. The answer: very easy.</p>
<p>The researchers downloaded more than 3,000 files&nbsp;containing insurance details, diagnosis information and personal info that can be used for identity theft, including one single document that held sensitive information about 28,000 people.</p>
<p>In most cases, the information was available because an employee of a healthcare organization installed file-sharing software on a work computer, which by default made all of the machine&rsquo;s data available by default.</p>
<h2>Set IT controls, and other keys</h2>
<p>Here are some steps companies can take to keep themselves safe and protect against the risks of illegal downloads:</p>
<ul>
<li>Create a written policy about what employees are allowed to download and what software they&rsquo;re allowed to install.</li>
<li>Block incoming and outgoing traffic from peer-to-peer file-sharing software &mdash; if employees have real work reasons for needing similar tools (to share documents with colleagues, for example), the IT department can find an effective solution.</li>
<li>Have a formal process for procuring software &mdash; especially given the rise in cloud computing services, it&rsquo;s easy for all departments to find and install software on their own. However, the IT department should be involved in the decision, and all procurement should take place using the same process.</li>
<li>Use security tools, such as Windows 7&prime;s AppLocker feature, to enforce application blacklists or whitelists and block potentially unsafe software installations.</li>
<li>Periodically audit what software is installed on servers and desktop machines to make sure all of what&rsquo;s being used is safe and legal.</li>
</ul>
<p><a rel="nofollow" target="_blank" href="http://www.addtoany.com/share_save#url=http%3A%2F%2Fwww.financetechnews.com%2Fpirated-software-malware%2F&amp;title=One%20cost-cutting%20technique%20that%20can%20get%20companies%20in%20big%20trouble"><img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="171" height="16" alt="Share"></a></p>
<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/pirated-software-malware/">One cost-cutting technique that can get companies in big trouble</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
<p><a href="http://feedproxy.google.com/~r/financetechnews/~3/ScrOCrWiwv0/">Go to Source</a><br />
Author: </p>
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		<title>Commercial RE Appraisals &#8211; an Inside Story</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/25/commercial-re-appraisals-an-inside-story/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/02/25/commercial-re-appraisals-an-inside-story/#comments</comments>
		<pubDate>Mon, 25 Feb 2013 16:21:42 +0000</pubDate>
		<dc:creator>Segueway</dc:creator>
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		<guid isPermaLink="false">http://www.linkedlocalnetwork.com/?p=50188</guid>
		<description><![CDATA[Segueway to Success Listen at – “Inside Commercial RE Appraisals” Previous Archived Shows - On Demand – “Segueway to Success” talk radio podcast By: Brent Hamachek and Tom Kuchan Our “Segueway to Success” show, talking about our blog, airs each Wednesday at 15:00 CST.  Find today’s show and the archives on our web site:  www.seguewaysolutions.com/Articles-and-Events.html How commercial [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.linkedlocalnetwork.com/wp-content/uploads/2013/01/Segueway.jpg" width="240" />
		</p><p>Segueway to Success</p>
<p>Listen at – “<a title="Blog Talk Radio - Commercial RE Appraisals" href="http://www.blogtalkradio.com/linkedlocalnetwork/2013/02/27/inside-commercial-re-appraisals--segueway-to-success" target="_blank">Inside Commercial RE Appraisals</a>”</p>
<p>Previous Archived Shows - <a href="http://www.blogtalkradio.com/search/segueway/">On Demand – “Segueway to Success” talk radio podcast</a></p>
<p>By: Brent Hamachek and Tom Kuchan</p>
<p><a href="http://www.linkedlocalnetwork.com/wp-content/uploads/2013/01/Segueway.jpg" rel="lightbox[50188]"><img class="alignnone size-full wp-image-46914" alt="Segueway" src="http://www.linkedlocalnetwork.com/wp-content/uploads/2013/01/Segueway.jpg" width="266" height="147" /></a>Our “Segueway to Success” show, talking about our blog, airs each Wednesday at 15:00 CST.  Find today’s show and the archives on our web site:  <a href="http://www.seguewaysolutions.com/Articles-and-Events.html">www.seguewaysolutions.com/Articles-and-Events.html</a></p>
<p><b>How commercial real estate appraisers do their job is a mystery to most</b>.  Every business owner is impacted by their work, even if they don’t own their own space because somebody does and that somebody probably has a mortgage.  <b>There is real science behind how an appraiser arrives at a value and there is also interpretative art.</b>  That is why contracts often call for three appraisals to be performed and the average of the three used to set value.  The numbers can be very different.</p>
<p>In 1989, in response to the collapse of the savings &amp; loan institutions earlier in the decade, President Bush signed into law the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA).  The regulation did many things including abolishing the Federal Home Loan Bank, made the FDIC the universal insurer of deposits, and created the Resolution Trust Corporation (RTC), which effectively became the federal government’s workout division for the banking industry.</p>
<p>There was something else that FIRREA did that had a much greater day to day impact on commercial banks and commercial borrowers than did all the other provisions combined.  The principals of Segueway were both making their living in commercial banking at the time the law was passed and a couple of years later when its regulations went into effect.  <b>Once it did, the new, not-even-half-joking interpretation of the FIRREA acronym became “Finally I’m a Rich Real-Estate Appraiser”.</b></p>
<p><b>FIRREA had changed the requirements for banks obtaining real estate appraisals on commercial loans secured by real estate</b>.  At one time, banks had it within their discretion to decide when an appraisal might be required.  No longer.  FIRREA mandated when appraisals had to be obtained and what the content needed to include.  <b>Suddenly the commercial real estate appraiser had a very captive market</b>.  From a sales perspective, the appraiser no longer had to convince a bank to get an appraisal, they only had to convince the bank to choose them to deliver it.</p>
<p>It really took the industry a few years to adapt to the changes.  Loopholes and exceptions in FIRREA led banks to try to circumvent the law when they could.  <b>Regulators took a very strict interpretative view.</b>  The two worlds collided for about 24 months before everything settled in.  And some form of new-normalcy took hold.</p>
<p><b>And then real estate collapsed in 2007.</b></p>
<p>While the provisions in Dodd-Frank regarding appraisals deal primarily with consumer loans and the residential market, the collapse in real estate in general has heightened interest and scrutiny of commercial real estate appraisals, as well.  While the real estate collapse in 2007 was primarily a result of government policies, the word in the press is that “bankers” caused it with reckless lending practices.  <b>Now, more than ever, bankers are looking to commercial real estate appraisers to “lean on” for support in making their decisions</b>.  Regulators are also looking at those <b>appraisers as the independent voice</b> who makes or breaks a loan decision or determination as to what to do with an existing loan.</p>
<p>Given how much influence the commercial real estate appraiser’s work has in today’s business marketplace, Segueway hosts thought our listeners would enjoy hearing from someone in the profession who has been around long enough to see all of the changes that have taken place in the industry over the last 25 years.</p>
<p><b>Join us this Wednesday when our guest will be David A. Kunkel, founder of Kunkel &amp; Associates, a Lisle, Illinois based commercial real estate firm</b>.  We will ask Dave how the industry has changed over the past few years and how his work impacts the lending practices of banks and, resultantly, how businesses can borrow, or not borrow, money.</p>
<p>&nbsp;</p>
<p><b>Segueway Solutions – </b><a href="http://www.seguewaysolutions.com/"><b>http://www.seguewaysolutions.com/</b></a><b> </b></p>
<p>+1 (847) 778-9474</p>
<p><b>Brent E. Hamachek</b> spent the first 15 years of his professional life in banking, working in 6 different sectors including audit, credit and 9 years as a commercial banker.</p>
<p>After commercial banking, Brent formed Segueway Solutions in 2000 in order to assist privately held companies in transition. To date, he has worked in 40 different industries and has served in the capacity of CEO, CFO &amp; EVP Sales for clients. Brent is a sought after consultant, speaker and trainer offering national and foreign expertise to clients.</p>
<p><b>brent@SeguewaySolutions.com</b></p>
<p><b>Tom Kuchan</b> is a proven leader in global business expansion and effectiveness, risk management, finance and operations with experience in both Fortune 50 and entrepreneurial environments. He has a proven record of defining strategic objectives, translating them into operational tasks, and leading their implementation in diverse geographies and cultures across the globe.</p>
<p>Tom has lived overseas for over twenty years, including Switzerland, Germany and the United Arab Emirates, and has worked extensively across Europe, Latin America, Africa, the Middle East, and Asia.</p>
<p><b>tom@SeguewaySolutions.com</b></p>
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		<title>Tighter budgets mean more risk for data centers</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/25/tighter-budgets-mean-more-risk-for-data-centers/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/02/25/tighter-budgets-mean-more-risk-for-data-centers/#comments</comments>
		<pubDate>Mon, 25 Feb 2013 12:00:56 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<description><![CDATA[Companies are being forced to cut costs, and one effect that&#8217;s having is increased risk of downtime and security breaches in the data center. But a new report says those cost savings may be worth it.&#160; Businesses are looking for ways to reduce costs in their IT infrastructure, and among other things, that means assuming [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>Companies are being forced to cut costs, and one effect that&rsquo;s having is increased risk of downtime and security breaches in the data center. But a new report says those cost savings may be worth it.&nbsp;<span></span></p>
<p>Businesses are looking for ways to reduce costs in their IT infrastructure, and among other things, that means assuming higher levels of risk than many organizations are used to, according to a recent report from DCD Intelligence. For the first time, data center operators said <a rel="nofollow" target="_blank" href="http://www.wallstreetandtech.com/it-infrastructure/data-center-operators-take-on-more-risk/240148624">budget restrictions were their top concern</a> &mdash; previously, those issues were second to&nbsp;resilience.</p>
<p>And that&rsquo;s changing their approach. Typically, when companies have designed data centers they aimed for a Tier 4 facility. Defined by the Telecommunications Industry Association, that means a data center with a&nbsp;redundant&nbsp;infrastructure and dual-powered cooling equipment and&nbsp;an expected availability of 99.995% &mdash; or about 26 minutes a year of downtime.</p>
<p>However, given the costs constricts, many of the businesses surveyed by DCD are considering aiming for Tier 3 or even Tier 2 data centers when they design new facilities. Tier 3 data centers have an expected downtime of about 95 minutes per year, while Tier 2 increases that expectation to more than 22 hours.</p>
<p>And that may not be a thing, according to the report. It&rsquo;s possible that in the companies companies had overestimated their need to avoid risk, says DCD. And many of the organizations surveyed are shifting their focus to increasing the reliability of their applications, which can be just as important for keeping a business up and running.</p>
<h2>Cloud computing can help, too</h2>
<p>Another step organizations are taking to deal with limitations in the data center budget is to turn to <a rel="nofollow" title="Cloud computing 101" target="_blank" href="http://www.itmanagerdaily.com/cloud-computing-101/">cloud computing</a> services. That allows businesses to move data and applications off of their network and on to a service providers&rsquo;. While availability concerns still exist, cloud computing service contracts often include uptime guarantees and offer financial penalties if they aren&rsquo;t met.</p>
<p>In addition, companies are turning to <a rel="nofollow" target="_blank" href="http://www.itmanagerdaily.com/disaster-recovery-cloud-computing/">cloud computing for disaster recovery services</a>. It&rsquo;s expensive to keep redundant infrastructure in case of an incident, and cloud services can allow companies to plan for disasters at a much lower cost.</p>
<p><a rel="nofollow" target="_blank" href="http://www.addtoany.com/share_save#url=http%3A%2F%2Fwww.financetechnews.com%2Flower-data-center-budgets%2F&amp;title=Tighter%20budgets%20mean%20more%20risk%20for%20data%20centers"><img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="171" height="16" alt="Share"></a></p>
<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/lower-data-center-budgets/">Tighter budgets mean more risk for data centers</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
<p><a href="http://feedproxy.google.com/~r/financetechnews/~3/Lj0SI_Sr5II/">Go to Source</a><br />
Author: </p>
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		<title>Are your Finance employees stealing data for competitors?</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/20/are-your-finance-employees-stealing-data-for-competitors/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/02/20/are-your-finance-employees-stealing-data-for-competitors/#comments</comments>
		<pubDate>Wed, 20 Feb 2013 13:57:14 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<description><![CDATA[Finance employees tend to have access to a lot of valuable information. And a new study says many of them have no problem stealing that data and giving it to competitors.&#160; The reason: Many employees don&#8217;t believe that stealing intellectual property or trade secrets is wrong, and often aren&#8217;t aware that it could be against [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>Finance employees tend to have access to a lot of valuable information. And a new study says many of them have no problem stealing that data and giving it to competitors.&nbsp;<span></span></p>
<p>The reason: Many employees don&rsquo;t believe that stealing intellectual property or trade secrets is wrong, and often aren&rsquo;t aware that it could be against the law.</p>
<p>That&rsquo;s the conclusion of a recent <a rel="nofollow" target="_blank" href="http://www.symantec.com/about/news/release/article.jsp?prid=20130206_01">study</a> conducted by antivirus vendor Symantec.</p>
<p>Confidential data is especially at risk when employees change companies. Among survey respondents who&rsquo;d switched employers within the past year, half admitted to keeping confidential corporate data, and 40% said they plan to use it in their new jobs. Employees surveyed said taking that intellectual property was acceptable because:</p>
<ul>
<li>It doesn&rsquo;t harm the company (cited 53% of respondents)</li>
<li>The company doesn&rsquo;t strictly enforce policies against it (51%)</li>
<li>The information isn&rsquo;t secured (44%), and</li>
<li>Doing so won&rsquo;t give the employee any financial gain (35%).</li>
</ul>
<p>In addition to take information when they leave, many employees also steal data or put it at risk as part of their daily duties. Among the 3,300 employees surveyed&nbsp;62% said it&rsquo;s acceptable to transfer work-related documents to personal computers, tablets, smartphones or online file sharing application. In addition to violating many companies&rsquo; policies about taking information off the premises, that could leave data open to variety of attacks &mdash; for example, file sharing sites could be hacked, and portable devices may be lost or stolen.</p>
<p>To protect data, Symantec recommends companies:</p>
<ol>
<li><span>Train users about applicable laws and their own policies regarding intellectual property</span></li>
<li><span>Enforce those policies strictly and efficiently, and</span></li>
<li><span>Keep data locked down using technical controls whenever possible.</span></li>
</ol>
<p>In addition, it&rsquo;s important for managers to set a good example regarding IT security. Part of the reason many employees are so lax in how they deal with intellectual property is like that just&nbsp;38% of survey respondents said their supervisor takes IT security seriously.</p>
<p><a rel="nofollow" target="_blank" href="http://www.addtoany.com/share_save#url=http%3A%2F%2Fwww.financetechnews.com%2Femployees-steal-intellectual-property%2F&amp;title=Are%20your%20Finance%20employees%20stealing%20data%20for%20competitors%3F"><img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="171" height="16" alt="Share"></a></p>
<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/employees-steal-intellectual-property/">Are your Finance employees stealing data for competitors?</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
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Author: </p>
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		<title>Open source costs more than commercial software (says Microsoft)</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/18/open-source-costs-more-than-commercial-software-says-microsoft/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/02/18/open-source-costs-more-than-commercial-software-says-microsoft/#comments</comments>
		<pubDate>Mon, 18 Feb 2013 11:00:27 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
				<category><![CDATA[Finance]]></category>
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		<description><![CDATA[A dispute between a German city and Microsoft has opened up a heated debate on the cost of open source software.&#160; Open source software is never completely free, in the financial sense. Even if the applications themselves are available at no cost, businesses still need to pay for support, training, data migration and other needs. [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>A dispute between a German city and Microsoft has opened up a heated debate on the cost of open source software.&nbsp;<span></span></p>
<p><a rel="nofollow" target="_blank" href="http://www.itmanagerdaily.com/open-source-software-implementations/">Open source software</a> is never completely free, in the financial sense. Even if the applications themselves are available at no cost, businesses still need to pay for support, training, data migration and other needs.</p>
<p>But just how much open source costs can be open for debate.</p>
<p>And that&rsquo;s exactly what has occurred recently between the German city of Munich and software giant Microsoft.</p>
<p>Munich&rsquo;s municipal government is currently carrying out a plan to migrate 13,000 of its office computers from Windows NT to Linux, and switching from Microsoft Word to the open source equivalent OpenOffice.</p>
<p>It&rsquo;s a big and costly project &mdash; the work began in 2004 and will finish later this year. However, Munich conducted an analysis and determined the move to Linux and OpenOffice will end up costing the equivalent of $30 million, while the city would have spent $45 million to stick with Microsoft, for total savings of $15 million.</p>
<p>But after the city went public with those figures, Microsoft did some research of its own, with help from HP. And by those companies&rsquo; calculations the migration will likely cost $80 million, more than twice as much as what Munich reported. That estimate included guesses about how much the support should cost and how much IT staff staff time would be required to complete the migration, as well as the costs of porting business applications to the new platform.</p>
<p>In response, Munich has stood by its original report, <a rel="nofollow" target="_blank" href="http://www.zdnet.com/no-microsoft-open-source-software-really-is-cheaper-insists-munich-7000010918/">ZDNet</a> reports. Representatives have said that the number of IT staff needed for the project is much lower than what Microsoft has estimated, and that Microsoft&rsquo;s numbers assume that all 13,000 machines have been running Linux since 2004, whereas in reality they&rsquo;ve been switched over gradually.</p>
<p>Also, rather than porting applications, in many cases the city has found an open source equivalent or web-based equivalent, a spokesperson said.</p>
<p>While most experts are more inclined to trust Munich&rsquo;s figures &mdash; since Microsoft has more to gain by fudging the numbers &mdash; the lesson here is that sometimes open source might save money, and other times it may not. Businesses should conduct their own thorough research before deciding what&rsquo;s best for them.</p>
<p><a rel="nofollow" target="_blank" href="http://www.addtoany.com/share_save#url=http%3A%2F%2Fwww.financetechnews.com%2Fopen-source-software-costs%2F&amp;title=Open%20source%20costs%20more%20than%20commercial%20software%20%28says%20Microsoft%29"><img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="171" height="16" alt="Share"></a></p>
<p>The post <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/open-source-software-costs/">Open source costs more than commercial software (says Microsoft)</a> appeared first on <a rel="nofollow" target="_blank" href="http://www.financetechnews.com/">Finance Tech News</a>.</p>
<p><a href="http://feedproxy.google.com/~r/financetechnews/~3/hkuJijHjzTc/">Go to Source</a><br />
Author: </p>
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		<title>3 hidden costs of BYOD – and how to avoid them</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/14/3-hidden-costs-of-byod-and-how-to-avoid-them/</link>
		<comments>http://www.linkedlocalnetwork.com/blog/2013/02/14/3-hidden-costs-of-byod-and-how-to-avoid-them/#comments</comments>
		<pubDate>Thu, 14 Feb 2013 11:00:06 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
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		<description><![CDATA[Allowing employees to work on their own personal devices can lead to cost savings. However, BYOD programs also increase costs in some areas.&#160; It isn&#8217;t just employees who benefit from the chance to use their own smartphones and tablets. According to one recent survey, BYOD increases profits, raises productivity and improves employee retention. However, there [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>Allowing employees to work on their own personal devices can lead to cost savings. However, BYOD programs also increase costs in some areas.&nbsp;<span></span></p>
<p>It isn&rsquo;t just employees who benefit from the chance to use their own smartphones and tablets. According to one recent survey, <a rel="nofollow" title="BYOD benefits" target="_blank" href="http://www.financetechnews.com/survey-byod-increases-profits-productivity-and-workplace-morale/">BYOD increases profits</a>, raises productivity and improves employee retention.</p>
<p>However, there are also a number of challenges in implementing a BYOD program, particularly in the IT department, according to a&nbsp;<a rel="nofollow" target="_blank" href="http://www.ipass.com/wp-content/uploads/2013/02/2013-iPass-MobileIron-MobileEnterpriseReport.pdf">report</a> from iPass and MobileIron.</p>
<p>These were top sources of hidden BYOD costs, according to the survey of&nbsp;477 IT pros:</p>
<h2>1. Cellular contract costs</h2>
<p>At many companies, when employees bring their own devices, they&rsquo;re responsible for paying for the device and any cellular and data service. However, in other cases &mdash; often for employees whose jobs require heavy mobile use &mdash; the company foots some or all of the bill. And those companies are seeing their costs increase.</p>
<p>Overall,&nbsp;57% of organizations believe mobile costs will increase next year, with 8% expecting an increase of more than 25%.</p>
<p>However, some firms have had luck reducing costs by streamlining their mobile carriers, according to the survey. Among the IT pros surveyed, 32% said they deal with only one mobile carrier, while 39% use from two to five. Reducing the number of carriers leads to volume discounts and simpler billing, which makes it easier to control costs.</p>
<h2>2. Configuration and support</h2>
<p>In addition to the money spent on cellular service, BYOD can also increase costs by creating more work for the IT department. That&rsquo;s especially the case as organizations are becoming more lenient in what devices they allow employees to bring to work. More than half (55%) of the IT pros surveyed said their organization recently changed its BYOD policy to allow more personal devices to be used.</p>
<p>Increases in the number and variety of personal devices makes it more difficult to onboard and support those devices. And in fact, the IT pros surveyed said their top BYOD challenge was approving, configuring and supporting personal personal devices to access the corporate network.</p>
<p>To minimize the impact, companies should:</p>
<ul>
<li><span>Give IT staff the training necessary to support all the devices employees might bring in</span></li>
<li>
<span>Make sure every one in the company is clearly informed about what devices are and aren&rsquo;t approved, so they don&rsquo;t waste time trying to have an unapproved&nbsp;</span><span>device supported, and</span>
</li>
<li><span>Provide BYOD participants with tools they can use to get support without contact IT &mdash; for example, some companies set up online portals where users of the same device can share troubleshooting tips and other ideas.</span></li>
</ul>
<h2>3. BYOD policy exceptions</h2>
<p>BYOD support costs also increase because the policy often isn&rsquo;t equal for everyone in the company &mdash; for example, executives are often allowed to use a personal device that other employees wouldn&rsquo;t be able to.</p>
<p>In fact, 55% of IT pros said they&rsquo;ve had to make exceptions to the policy to meet an executive&rsquo;s demands.</p>
<p>The solution? It depends on the company. Often, the best bet is to explain to the executive the reasons for not supporting that particular device. In many cases, he or she will understand &mdash; but in others, IT will have no choice.</p>
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		<title>Report: Companies spending less on IT outsourcing</title>
		<link>http://www.linkedlocalnetwork.com/blog/2013/02/12/report-companies-spending-less-on-it-outsourcing/</link>
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		<pubDate>Tue, 12 Feb 2013 11:00:47 +0000</pubDate>
		<dc:creator>hfeemster</dc:creator>
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		<description><![CDATA[While outsourcing some IT functions can help many organizations save money, firms are spending less on IT outsourcing than they have in the past.&#160; Spending for third-party IT services is down and is likely to dip even further, according to a recent report from consulting firm Information Service Group (ISG). In the fourth quarter of [...]]]></description>
				<content:encoded><![CDATA[<p style="float:right; margin:0 0 10px 15px; width:240px;">
		<img src="http://www.financetechnews.com/wp-content/plugins/add-to-any/share_save_171_16.png" width="240" />
		</p><p>While outsourcing some IT functions can help many organizations save money, firms are spending less on IT outsourcing than they have in the past.&nbsp;<span></span></p>
<p>Spending for third-party IT services is down and is likely to dip even further, according to a recent <a rel="nofollow" target="_blank" href="http://www.isg-one.com/web/media-center/press/130116-US.asp">report</a> from consulting firm Information Service Group (ISG).</p>
<p>In the fourth quarter of 2012, spending on IT outsourcing dropped 18% from the previous quarter, and 37% compared to the same period in 2011. In total, businesses spent 11% less on IT outsourcing contracts in 2012 compared to 2011.</p>
<p>The main reason: Companies signed fewer new deals compared to previous years. The primary focus for businesses last year was improving their relationships with current service providers, rather than shopping for new contracts.</p>
<p>In addition, distractions from the November election and the fallout from October&rsquo;s Hurricane Sandy also kept fourth-quarter numbers down.</p>
<p>However, things aren&rsquo;t likely to pick up quickly in the new year. Among 400 sourcing advisors surveyed by ISG, 73% said demand for IT outsourcing dropped over the final two quarters of last year, and 62% expected demand to stay flat or drop further in the first half of 2013.</p>
<h2>IT outsourcing still helps some companies save</h2>
<p>However, that lower demand doesn&rsquo;t mean that companies have stopped seeing financial and other benefits from IT outsourcing. Contracting with a provider to outsource some IT functions that the company can&rsquo;t handle in house can help companies cut costs and complete sporadic projects without breaking the bank.</p>
<p>Often, the arrangement works best for software and web development, since those often involve finite projects that don&rsquo;t require the addition of new full-time IT employees.</p>
<p>These are the <a rel="nofollow" target="_blank" href="http://www.itmanagerdaily.com/it-outsourcing-survey/">top IT outsourcing areas</a> companies are turning to, according to an earlier survey from consulting firm Blue Wolf:</p>
<ol>
<li>Application development (outsourced by 46% of the 200 organizations surveyed)</li>
<li>Web development (39%)</li>
<li>Application hosting (28%)</li>
<li>Application maintenance (26%)</li>
<li>Data center operations (23%)</li>
<li>Disaster recovery (17%)</li>
<li>Database administration (17%)</li>
<li>Network operations (16%)</li>
<li>IT security (15%), and</li>
<li>Help desk (12%).</li>
</ol>
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